PGDM -> MBA

Was just curious, is an IIM MBA or what's called PGDM (Post Graduation Diploma in Management) from IIMs equivalent to an MBA, because from what I know, PGDM is mainly for fresh grads and not for experienced individuals like how US/Eur MBAs are in general, so its effectively more like how an MiM is in Europe but it is called an MBA. So if a person after recieving PGDM from IIMA 2-4 years in their career feels like changing location/career, can he/she go for another MBA at M7/T15/INSEAD/LBS?

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